FROM CHANNEL 14 NEWS -Sale Of Ellis Park Approved, New owners Plan To Invest $100 Million

Henderson, Ky. (WFIE) – Ellis Park is getting new owners, again.

Tuesday, The Kentucky Horse Racing Commission approved the purchase by Ellis Entertainment LLC. They also granted their racing license, and approved adding 900 new racing machines, making a total of 1,200.

Representative of Ellis Entertainment LLC, Bob Beck, says a purchase agreement has been signed with current owners, Saratoga Hospitality.

Final closing is expected by the end of June.

Ellis Entertainment LLC representatives say they work with Laguna Development Corporation out of Albuquerque.

We spoke with officials from the company back in May when we first reported the possible sale.

According to the company website, LDC manages and operates casinos, restaurants, hotels and retail businesses in the Pueblo of Laguna reservation.

Saratoga just purchased Ellis Park last year.

Ellis Entertainment LLC representatives say they plan to invest $100 million dollars into Ellis Park.

That plan includes a brand new facility in front of the current one, as well as restaurants, and a hotel.

Officials say they hope to do the work in phases and have a new facility open by November 2020.

Kevin Greer, Managing Partner for Ellis Entertainment said, “We are both honored and excited for the opportunity to purchase Ellis Park, one of Kentucky’s oldest and most revered racetracks. We appreciate the knowledge and support the Kentucky Horse Racing Commission has provided us while we prepare torestore Ellis Park to its rightful place as one of the Bluegrass State’s premier racing facilities.”

“We remain committed to the upcoming racing season at Ellis Park and ensuring that it is one of the most successful the property has seen in years,” said Daniel Gerrity, President of Saratoga Casino & Hospitality Group. “We look forward to working closely with Ellis Entertainment in the coming months to ensure a seamless transition of ownership.”

Jospeph Payton was at the meeting in Florence, Kentucky. He’ll have more on the plans for Ellis Park tonight on 14 News.